Silicon Metals Corp. Increases and Closes Unit Offering for Total Gross Proceeds of $820,000
Silicon Metals Corp. (CSE: SI) has successfully closed an increased non-brokered private placement, raising total gross proceeds of $820,000 through the issuance of 16,400,000 units at $0.05 per unit. Each unit consists of one common share and half a warrant, with whole warrants exercisable at $0.055 for 24 months.
The company will use the proceeds to advance its 100% owned Ptarmigan Silica Project in British Columbia, which recently received 5-year exploration permits, and fund initial work at the Sudbury-based Maple Birch Project with its Aggregate Production Permit. The offering includes an accelerator provision and resulted in $13,000 in fees and 260,000 finder's warrants.
Silicon Metals Corp. (CSE: SI) ha completato con successo un aumento di un collocamento privato non intermediato, raccogliendo proventi lordi totali di $820,000 mediante l'emissione di 16,400,000 unità a $0.05 per unità. Ogni unità è composta da una azione ordinaria e mezza warrant; i warrant interi sono esercitabili a $0.055 per 24 mesi.
L'azienda utilizzerà i proventi per portare avanti il suo Ptarmigan Silica Project interamente di proprietà (100%) in British Columbia, che ha recentemente ottenuto permessi di esplorazione della durata di 5 anni, e per finanziare i lavori iniziali del Maple Birch Project con base a Sudbury, coperto dal suo Aggregate Production Permit. L'offerta include una clausola acceleratrice e ha comportato $13,000 in commissioni e l'emissione di 260,000 warrant per procacciatori.
Silicon Metals Corp. (CSE: SI) ha cerrado con éxito una colocación privada no intermediada ampliada, recaudando unos ingresos brutos totales de $820,000 mediante la emisión de 16,400,000 unidades a $0.05 por unidad. Cada unidad consta de una acción ordinaria y medio warrant; los warrants completos son ejercitables a $0.055 durante 24 meses.
La compañía utilizará los fondos para avanzar su Ptarmigan Silica Project, 100% de su propiedad en Columbia Británica, que recientemente obtuvo permisos de exploración por 5 años, y para financiar los trabajos iniciales en el Maple Birch Project, con sede en Sudbury, que cuenta con su Aggregate Production Permit. La oferta incluye una cláusula aceleradora y resultó en $13,000 en honorarios y la emisión de 260,000 warrants para intermediarios.
Silicon Metals Corp. (CSE: SI)는 증액된 비중개(private placement) 사모를 성공적으로 마감하여 총 $820,000의 총수익을 단위당 $0.05로 16,400,000 단위를 발행해 확보했습니다. 각 단위는 보통주 1주와 워런트 0.5개로 구성되며, 완전한 워런트는 $0.055로 24개월 동안 행사할 수 있습니다.
회사는 조달 자금을 브리티시컬럼비아에 있는 100% 소유 Ptarmigan Silica Project의 진행에 사용하며, 해당 프로젝트는 최근 5년간의 탐사 허가를 받았습니다. 또한 서드버리(Sudbury)에 기반한 Maple Birch Project의 초기 작업을 해당 프로젝트의 Aggregate Production Permit을 통해 자금 지원할 예정입니다. 이번 오퍼링에는 가속 조항이 포함되었으며, $13,000의 수수료와 260,000개의 파인더스 워런트가 수반되었습니다.
Silicon Metals Corp. (CSE: SI) a clôturé avec succès un placement privé non courtier augmenté, levant des produits bruts totaux de $820,000 par l'émission de 16,400,000 unités à 0,05 $ l'unité. Chaque unité se compose d'une action ordinaire et d'un demi-warrant; les warrants entiers sont exerçables à 0,055 $ pendant 24 mois.
La société utilisera les fonds pour faire progresser son Ptarmigan Silica Project détenu à 100% en Colombie-Britannique, qui a récemment obtenu des permis d'exploration de cinq ans, et pour financer les travaux initiaux du Maple Birch Project basé à Sudbury, qui bénéficie de son Aggregate Production Permit. L'offre comporte une clause d'accélération et a entraîné $13,000 de frais et l'émission de 260,000 warrants d'apporteur.
Silicon Metals Corp. (CSE: SI) hat eine aufgestockte, nicht vermittelte Privatplatzierung erfolgreich abgeschlossen und dabei Bruttoerlöse von $820,000 durch die Ausgabe von 16,400,000 Einheiten zu je $0.05 erzielt. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant; ganze Warrants sind zu $0.055 für 24 Monate ausübbar.
Das Unternehmen wird die Erlöse verwenden, um sein zu 100% gehaltenes Ptarmigan Silica Project in British Columbia voranzutreiben, das kürzlich fünfjährige Explorationsgenehmigungen erhalten hat, und um die anfänglichen Arbeiten am in Sudbury ansässigen Maple Birch Project mit dessen Aggregate Production Permit zu finanzieren. Das Angebot enthält eine Beschleunigungsklausel und führte zu $13,000 an Gebühren sowie der Ausgabe von 260,000 Vermittler-Warrants.
- Oversubscribed offering raising $820,000 in gross proceeds
- Recently received 5-year exploration permits for Ptarmigan Silica Project
- Holds Aggregate Production Permit for Maple Birch Project
- Warrant accelerator provision provides potential upside at $0.15 share price
- Dilutive effect from issuing 16.4 million new units
- Low unit pricing at $0.05 indicates current market conditions
- Additional dilution possible from 8.2 million warrants if exercised
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that further to its news releases dated July 15, 2025, it has increased and closed its previously announced non-brokered private placement for total gross proceeds of
Morgan Good Silicon's Chief Executive Officer, commented: "The Company is excited to complete and oversubscribe our Offering as it now gives Silicon the necessary use of proceeds to advance near term work in British Columbia at its
The Units consist of one common share of the Company and one half of a common share purchase warrant, with each whole warrant entitling the holder thereof to purchase a common share at an exercise price of
The Company intends to use the aggregate proceeds of the Offering for advancement and development of the Company's properties, as well as for general working capital purposes. Fees of
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45‐102 – Resale of Securities.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The Company's Maple Birch Project, located approximately 30km south-east of Sudbury, Ontario, is a high purity quartz pegmatite project with a 3000 tonne per year production permit. The Company also holds an undivided
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release and further details about Silicon's plans, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the Company's plans and intended use of proceeds from the Offering and its planned exploration work at its properties.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will have all the necessary resources, including personnel and capital to carry out its business plans and that the Company's exploration plans will not change. These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not use the proceeds from the Offering as disclosed; that the Company will be unable to carry out its business and exploration plans as disclosed; changes in applicable legislation impacting the Company's exploration plans; unanticipated costs; loss of key personnel; the occurrence of other unforeseen circumstances or events that change the Company's business and exploration plans.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261901
FAQ
How much did Silicon Metals Corp (SLCNF) raise in its latest private placement?
What are the terms of Silicon Metals' warrant offering in August 2025?
How will Silicon Metals use the proceeds from its $820,000 offering?
What permits does Silicon Metals Corp hold for its projects?
